Provenance Gold Advances Exploration Plans at Eldorado West

Vancouver, British Columbia--(Newsfile Corp. - May 26, 2026) - Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) ("Provenance" or the "Company") is pleased to announce a significant step forward in the advancement of its Eldorado West Gold Project in eastern Oregon (the "Project") with the submission to the Bureau of Land Management (BLM) of an Exploration Plan of Operations.

The Company's exploration plan is designed to support expanded drilling and a more systematic evaluation of the mineralized footprint at the Project, including expanded in-fill drilling to further define the current mineralized footprint and allow for expansion of the known mineralization through extensive step-outs.

Provenance CEO and President, Rob Clark, stated, "This marks another important step forward for the Company as we execute on key initiatives to systematically de-risk and advance this high-quality asset."

Semi-Annual Reporting

The Company announces its intention to adopt semi-annual reporting ("SAR") pursuant to Coordinated Blanket Order 51-933 – Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the "Blanket Order") issued by the British Columbia Securities Commission on March 19, 2026.

The Blanket Order allows eligible venture issuers listed on the Canadian Securities Exchange (the "CSE") to voluntarily move from quarterly to semi-annual financial reporting. By adopting the SAR, the Company aims to reduce the administrative and financial burden associated with quarterly reporting.

The Company's fiscal year ends on December 31. Under the SAR pilot program, the Company will no longer file interim financial statements and related management's discussion and analysis ("MD&A") for the three-month and nine-month periods ending March 31 and September 30, respectively. The initial interim period for which the Company will not file an interim financial report and related MD&A is the three-month period ended March 31, 2026.

The Company will continue to file audited annual financial statements (due within 120 days of December 31) and six-month interim financial reports (due within 60 days of June 30).

The Company confirms it meets the pilot program's eligibility criteria, which include, among other things, being a venture issuer with annual revenues of less than $10 million and maintaining a clean 12-month continuous disclosure record. The Company remains committed to timely disclosure and will continue to report all material changes and significant developments as required under National Instrument 51-102 - Continuous Disclosure Obligations.

The Company confirms that this news release is being filed pursuant to the Blanket Order.

About Provenance Gold

Safe Harbor Statement: Neither the Canadian Securities Exchange, nor its regulation services provider, accepts responsibility for the adequacy or accuracy of this press release. This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including statements regarding advancing the discovery at the Project; increasing the mineralized footprint of the Project; timing and results of future testwork; the exploration program planned for 2026; plans to rely on the Blanket Order and adopt SAR; the release of the results from the core drilling program; and the Company's future plans and intentions. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Such factors include, among other things: risks related to uncertainties inherent in drill results; and risks associated with executing the Company's plans and intentions. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. These forward-looking statements are made as of the date of this news release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298785